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What Rahul Dravid is to cricket, Max New York Life is to life insurance! Masters of their own game, both are ‘Mr. Dependable’ on the field. Ask its CEO, Gary Bennett, who feels that, “respect for money is the first and the foremost principle of building one’s own wealth.” Surely, today, he has ensured that every advisor too believes in the very same concept. The company has identified individual agents as the key distribution agents for itself and this has been the main stay for the company. With 345 of its agents making it to the Million Dollar Round Table (MDRT) in 2006 – an elite club of top insurance agents, whose practice have been par excellence, the company needs to say little about the quality of human capital it possesses. It is also pursuing alternative channels of distribution, which include – expansions through the franchise model, rural business, direct sales force, telemarketing, bancassurance and corporate alliances. “To become the most admired and the most preferred insurance company in India,” is what Max New York Life sets as its branding statement. But then, considering its high standards, it is indeed the truth!

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Source : IIPM Editorial, 2008

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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